Sales Deals of the Week: Nuveen Sells Off Midtown Building for $178M

The top five sales across the country from June 17 to June 21

reprints


The firm run by Cyrus and Darius Sakhai, Sovereign Partners, is expanding its portfolio in Midtown yet again with the $178 million acquisition of 780 Third Avenue, the biggest sale in the country last week. It’s Sovereign’s second major acquisition since buying 100-104 Fifth Avenue for $125 million in October 2023.

In California, Federal Realty Investment Trust also sold off storefronts on the Third Street Promenade for $104 million.

SEE ALSO: Ben-Josef Group Pays $20M for 29-Unit Boerum Hill Apartment Building
Amount Address Buyer Seller Brokers Asset
$178 million 780 Third Avenue; Manhattan Sovereign Partners Nuveen Eastdil Secured’s Gary Phillips and Will Silverman Office
$139.2 million 11431 Lakeside Drive; Doral, Fla. Pantzer Properties AMLI Residential JLL's Maurice Habif, Simon Banke and Nick Lavin Multifamily
$104 million 1202, 1222, 1225, 1232, 1339 and 1344 Third Street Promenade and 301 Arizona Avenue; Santa Monica, Calif. Daniel Negari, United El Segundo Federal Realty Investment Trust N/A Retail
$75 million 85 East End Avenue Farallon Capital BlackRock N/A Multifamily
$75 million 1819 and 1855 79th Street Causeway; North Bay Village, Fla. Continuum Company Jesta Group N/A Development

Sales Deals of the Week reflect deals closed or announced from June 17 to June 21. Information on sales can be sent to editorial@commercialobserver.com.